Edit: mailed the customer service - it's Belgium, Italy & Germany.
Please read this important update about Trading and Brexit for our Belgian customers
Hi,
As previously communicated to you, we’ve been working on mitigating the impact of Brexit on Belgian customers using our Trading Service. The exceptional circumstances of Brexit have impacted our plans in connection with the Trading Service and we are sorry to inform you that from 1 January 2021 the functionality of your Trading account will be restricted, and you will be unable to buy or sell any individual stock from that date onwards. This restriction will remain in place until our application for authorisation in Ireland has been approved, enabling us to provide investment services in Belgium later in 2021. We sincerely apologise for the inconvenience this may cause you.
Until 23:00 UTC 31 December 2020
You will have full access to your Trading account as normal.
From 1 January 2021
You will still be able to view your stock portfolio, but you will not be able to buy or sell investments from 1 January 2021. You will be able to close your Trading account at any point from 1 January by contacting our Support team via the in-app chat. Closing your Trading account would mean that all your investments would be sold and the net proceeds would be transferred to your USD e-Money account.
You will still be able to withdraw any cash that you hold in your Trading account.
Warning
As your Trading account will be restricted from 1 January 2021, you will not be able to buy or sell orders via the Revolut App - regardless of market developments. This could result in investment losses for you on individual holdings that cannot be sold, unless you close your account, resulting in the sale of your entire investment portfolio.
If you believe you will need to access part of the cash value of your stock portfolio in the short term (e.g. in the next 6 months) you can still sell individual holdings before 23:00 UTC 31 December 2020. After that date you will only be able to close your account or hold your whole portfolio.
If you wish to close your Trading account at any time please contact our support team via the in-app form. Please note that it will take between three and five days for your account to be closed and trades to be settled.
We recommend that you discuss the potential implications of selling your stock and closing your Trading account with your financial advisor(s). We plan to be in a position to offer you Trading Services when our application for authorisation in Ireland has been granted, enabling us to provide investment services in Belgium in 2021.
www.revolut.com
www.qover.com
